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cryptolegend
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Not BTC or XRP – Digital Asset of the Decade Will Be Ethereum (ETH), Says Cryptocurrency Analyst

CryptoWolf, a widely-followed cryptocurrency market analyst, argues that Ethereum (ETH) will be the best-performing digital asset of this decade.

The professional trader is sharing a chart that compares Bitcoin (BTC) with Ether with his 20,000+ followers, while noting he believes it “must not be ignored.”

https://twitter.com/IamCryptoWolf/status/1215617181624479744

Like all cryptocurrencies, the success of Ethereum is far from a sure thing.

Scalability will most likely be a key factor that drives adoption rates for the second-largest cryptocurrency by market cap. Developers are pushing to boost the blockchain’s maximum number of transactions per second far beyond its current limit of

Weiss Crypto Ratings says Ethereum’s long-term success hangs in the balance.

“Chronic congestion on the Ethereum network shows worldwide adoption, most important factor in long-term success of any crypto. However, if nothing changes, ETH users will start looking for alternatives. That’s why ETH 2.0 is necessary for Ethereum to move forward.”

ConsenSys, a New York-based organization supporting Ethereum development, says 2020 “will see Ethereum 2.0 come to life.” The developers of the leading platform for building decentralized applications are working on a major system-wide update, ETH 2.0, which should significantly improve the performance of the Ethereum blockchain.

“The march towards Ethereum 2.0 is proceeding at a rapid clip. Proof of Stake Ethereum exists. It’s alive! 2020 will see Ethereum move stridently beyond Phase 0 of Ethereum 2.0, onto Phase 1 and the launch of shard chains. Then, it’s game on.”

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Max
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Ethereum Could Be in The Early Stages of Its Next Journey to All-Time Highs

Ethereum’s bulls have even been able to maintain its newfound position within the $180, in spite of the drop seen today by Bitcoin and other cryptocurrencies.

Analysts are now noting that the macro situation for Ethereum is becoming incredibly bullish, and that the rally seen over the past few weeks could mark the start of its journey to fresh all-time highs.

Ethereum Holds Above $180 as Analysts Eye Significant Near-Term Upside

At the time of writing, Ethereum is trading down just over 2% at its current price of $180.50, and it is currently trading down from 24-hour highs of just under $186 that were set earlier this week.

It is important to note that the cryptocurrency has been able to bounce from daily lows of $176 that were set in tandem with Bitcoin’s drop to lows of $9,200, and the aggregated market does appear to be entering another consolidation phase.

Analysts are currently eyeing significant short-term upside for the cryptocurrency, as Galaxy, a prominent crypto analyst on Twitter, explained in a recent tweet that he is buying ETH at $180, with at $350 short-term sell target.

“Buying $ETH here at $180 and looking to sell at $350,” he explained.

https://twitter.com/galaxyBTC/status/1223336584340287489

While looking at the chart he references above, it appears that this major upside could be catalyzed by the crypto breaking a multi-year descending resistance level it is currently caught beneath.

Could ETH Be Kicking Off Its Next Journey to All-Time Highs?

Satoshi Flipper – another prominent cryptocurrency analyst on Twitter – explained in a recent tweet that the crypto’s weekly chart shows just how far it could run in the future, further adding that he does believe it will set fresh all-time highs in the future.

“Need to look at the ETH WEEKLY to fully appreciate where we are in the cycle. Ethereum will have another ATH in the future and riding this all the way back up can be life changing money. I’m betting on it,” he said.

If Ethereum does garner the type of short-term momentum that Galaxy is anticipating it to see, then it truly could be in the early stages of the next parabolic uptrend that sends it to fresh all-time highs.
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giovinazzi
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HOW ETHEREUM (ETH) COULD OUTPERFORM THE BITCOIN CHART

Bitcoin has found another temporary consolidation zone in the low $10k region but Ethereum is still marching higher. One analyst has turned very bullish on ETH and can see it outperforming the bitcoin chart.


ETHEREUM TAPS ANOTHER HIGH

ETH prices have touched another new seven month high of just under $290 according to Tradingview.com. There has been no pullback yet for the world’s second most popular crypto asset as it continues to march higher.

ethereum

ETH prices 1-hour chart – Tradingview.com

$300 is definitely on the cards now as predicted by Bitcoinist a couple of days ago. The recent move above resistance has resulted in a gain of 120% so far this year for Ethereum. It has already outperformed its big brother which has made around 45% over the same period.

There is further resistance at $320 then nothing stopping it revisiting last year’s high of $360. Beyond that $400 will be the next target as this area served as strong support and resistance during the 2017 rally.

Trader and popular analyst Josh Rager has been eyeing the BTC/ETH chart noting that prices have revisited an accumulation zone similar to one back in 2016.

https://twitter.com/Josh_Rager/status/1228425371877507072

 

These are BTC prices for ETH, not USD which is why the potential is much greater. Ethereum has been in the depths of its first major bear market which has lasted over two years. Once it finally breaks out of this there will be huge gains against both fiat and bitcoin.

Even with the latest momentum, Ethereum is still 80% off its previous all-time high whereas BTC is less than 50% down. Ethereum, therefore, has a lot further to run in the short term while bitcoin may not get the momentum until the year after the halving as it has done previously.

The analyst added that he would wait for a retrace before buying in and is very bullish on ETH this year which has a lot in the pipeline. Additionally, it is usually the high cap crypto assets that recover first if this is to be the beginning of an alt season.

Rager mentioned that ETH can be used to stack sats but its likely use will be for collateral in DeFi markets. The amount of ETH locked up in DeFi has surged over 80% in the past seven months and this trend is set to continue which is all bullish for demand and prices.

 

 

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bitcoiner
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These 3 Technical Factors Suggest Ethereum Will Soon Jump Higher, Pass $300

Like most other cryptocurrencies, Ethereum hasn’t had the best past few days. The second-largest cryptocurrency fell off a cliff on Wednesday, plunging from a price just shy of $290 to a price as low as $245, perdata from TradingView. ETH has since settled above $260, seemingly trying to establish some support before it decides where to go next.

According to a top analyst, Ethereum’s outlook for the next few days is currently leaning bullish. They pointed to a confluence of three technical factors to back this lofty sentiment.

Ethereum Is Printing a Flurry of Positive Signs

According to trader RookieXBT, Ethereum is printing three signs (on the six-hour chart) that it is about to surge higher, breaking past the pseudo-double top formation that formed just shy of $290 over the past three weeks:

  • ETH is currently printing an “ascending triangle structure,” marked by a number of tests of a horizontal resistance level and slowly-trending-higher prices. Ascending triangles most often break upwards.
  • The six-hour Relative Strength Index (RSI), a measure of the magnitude of price action, is creating a falling wedge structure. Falling wedges normally break upward.
  • There are hidden bullish divergences forming between the price of Bitcoin, which has been registering a series of higher lows, and the RSI, which continues to make lower lows. This suggests a breakout of the RSI wedge may come shortly, which should send Ethereum above the triangle that has constricted upward price action.

https://twitter.com/RookieXBT/status/1231227781725466633

Long-Term Signs Bullish Too

That’s not all.

Per previous reports from NewsBTC, trader Alunaut recently noted that a monumental sign has been seen on the one-week chart of Ethereum: ETH recently crossed above and confirmed a close above the Ichimoku Cloud, boding extremely well for ETH’s bull case moving forward.

 

Indeed, when this was seen with Bitcoin in 2016, the cryptocurrency proceeded to rally by thousands of percent to $20,000 in the months that followed.

This historical precedent suggests Ethereum could do extremely well in the coming year or two years.

Not to mention, Ethereum’s one-month Moving Average Convergence Divergence (MACD) has just recently flipped from a bear to bull trend for the first time in two years, for the first time since October 2017.

With the MACD being a momentum indicator that tracks an asset’s trends, the indicator saying a bull trend is forming on the one-month chart is extremely positive for Ethereum bulls.

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cryptolegend
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Can Ethereum Bulls Overcome This Hurdle To Start Fresh Rally?

Ethereum decline to a new 3-week low at $208 against the US Dollar, similar to bitcoin. ETH price could correct higher in the short term, but upsides are likely to remain capped near $242.

  • ETH price is currently showing a few recovery signs from the $208 low against the US Dollar.
  • The price is now trading above the $220 level, but it is facing many hurdles.
  • There is a major bearish trend line forming with resistance near $225 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to correct above $230, but the bulls could struggle near $242 and $243.

Ethereum Price is Correcting Losses

This past week, Ethereum declined steadily below the $250 support level against the US Dollar. ETH price even traded below the $242 support level and settled well below the 100 simple moving average (4-hours).

It traded as low as $208 and recently started an upside correction. There was a break above the $215 and $220 resistance levels. The price even climbed above the 23.6% Fib retracement level of the key decline from the $278 swing high to $208 weekly low.

However, Ethereum seems to be facing a couple of hurdles near the $230 zone. There is also a major bearish trend line forming with resistance near $225 on the 4-hours chart of ETH/USD.

Ethereum Price

Ethereum Price

If the bulls succeed in clearing the trend line resistance, the next stop for the bulls could be $236. The main hurdle on the upside is near the $242 and $243 levels. The 50% Fib retracement level of the key decline from the $278 swing high to $208 weekly low is also near the $243 level to act as a major resistance along with the 100 simple moving average (4-hours).

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Therefore, the bulls are likely to struggle near $242, $243, and the 100 simple moving average (4-hours). A successful close above the $243 level and the 100 SMA is needed to start a fresh increase towards the $270 level.

$200 As an Important Support

On the downside, an initial support is seen near the $215 level. The first key support for Ethereum is near the $208 and $205 levels.

The main support is still near the $200 handle, below which there is a risk of a trend change from bullish to bearish in the medium term.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly moving in the bearish zone.

4 hours RSI – The RSI for ETH/USD is recovering and it is above the 40 level.

Major Support Level – $205

Major Resistance Level – $242

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bitcoiner
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Last Time Ethereum Did This, It Rallied Over 1,000% Percent. It’s About to Happen Again

Despite Bitcoin closing 2019 up 90%, Ethereum didn’t fare all too well. The second-largest cryptocurrencyactually registered a negative performance last year, crushed under the pressure of continued ICO selling and at-times questionable fundamentals.

Analysts, however, have rapidly changed their outlook on ETH in the early stages of 2020, citing a confluence of positive technical factors that suggest extreme upside is imminent.

Could Ethereum Hit $777.77 By The End of 2020?

Cryptocurrency trader Smack recentlyremarkedthat Ethereum’s chart for all of 2020 is starting to shape up extremely bullish, proposing a $777.77 price target by the end of 2020 target for the leading altcoin — meaning it will need to rally 222%.

He backed this lofty sentiment by looking to a number of things: the RCI3lines indicator currently looks exactly as it did prior to Ethereum’s over 1,000% rally from sub-$100 price points to $1,400 in a year’s time, and ETH is seemingly poised to trend into the two-weekIchimoku Cloud, which is likely to trigger an end-to-end move to $777.

https://twitter.com/SmackTrades/status/1236058577334398976

 

Far From The Only Bull on ETH

It isn’t only Smack that’s recently expressed positive sentiment about Ethereum.

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Perprevious reports from NewsBTC,Tyler “Sawcruhteez” Coates, the trader who called Bitcoin’s price action in January down to a T (accurate in terms of time and the magnitude of price action), recently said that ETH is showing signs that it has recently bottomed and is preparing to reverse higher to new local highs from here.

A chart the analyst shared showed that Ethereum’s price recently bounced off a two-month-long uptrend that has supported the steep rally, while crossing above key exponential moving averages.

This, he claims, gives the cryptocurrency the potential to rally 50% to 2019’s high of $360 in the coming months.

Also, data from industry firms have shown that large Ethereum holders have started to stash up on the cryptocurrency once again, a sign of long-term confidence. 

Below is a chart fromSantiment, which shows that the top 100 ETH holders (non-exchange wallets) have increased their holdings over the past two weeks:

The top 100 holders of Ethereum are once again beginning to accumulate higher percentages of the total token supply, in spite of the ongoing consolidation that has been occurring for the past couple of weeks.

Ethereum ETH

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bitcoiner
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Ethereum Bulls Aim Key Bullish Break Above $150 and 100 SMA

  • ETH price is currently trading nicely above the $120 and $125 support levels against the US Dollar.
  • The price is likely to move higher in the short term towards the $150 resistance.
  • There is a key bullish trend line forming with support near $126 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to face a strong selling interest near $150 and the 100 simple moving average (4-hours).

Ethereum Price Forming Supports

Earlier this month, Ethereum declined heavily below many supports near $120 and $100 against the US Dollar. ETH price even settled well below the $150 level and the 100 simple moving average (4-hours).

It traded to a new 2020 low at $90 and recently started an upside correction. There was a recovered above the $100 and $110 levels. Later, there was a support base formed above $120 and the price climbed above the $130 resistance level.

The bulls were able to gain strength above the $140 level, but they struggle to remain in action above the $150 level. A swing high is formed near $153 and the price moved down.

There was a break below the 50% Fib retracement level of the recovery wave from the $101 low to $153 high. On the downside, the $120 area is acting as a key support. There is also a key bullish trend line forming with support near $126 on the 4-hours chart of ETH/USD.

Ethereum Price

Ethereum Price

The 61.8% Fib retracement level of the recovery wave from the $101 low to $153 high is also acting as a decent support. It seems like Ethereum is forming a couple of solid supports near the $120 level.

If there is a downside break below the trend line and $120, the price is likely to revisit the $100 support in the near term.

Hurdles on the Upside

On the upside, Ethereum is facing a couple of important hurdles, starting with $140 and $142. The main hurdle is near the $150 level and the 100 simple moving average (4-hours).

If the bulls gain strength above the $150 and $155 levels, the price could surge towards the $180 resistance area.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone.

4 hours RSI – The RSI for ETH/USD is now well above the 50 level.

Major Support Level – $120

Major Resistance Level – $150

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bitcoiner
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How Rich is Vitalik Buterin?

The man behind Etheruem has amassed substantial wealth, most of which is held in Ether and other cryptocurrencies.

 

Key Takeaways

  • Buterin’s cryptocurrency holdings represent the largest chunk of his wealth, worth $82 million at today’s prices.
  • Buterin also has substantial cash holdings, estimated at $12 million, as well as a salary somewhere between $140,000 and $250,000.
  • Finally, he owns equity in two multi-million dollar startups, Clearmatics and StarkWare. The precise value of these investments is not known.

Vitalik Buterin is one of the most influential people in crypto. He has amassed substantial wealth thanks to his role in creating Ethereum. We calculated his net worth.

Buterin wasn’t rich prior to creating Ethereum. His first major windfall was in 2014. That year he dropped out, at 20 years old, after receiving $100,000 through a Thiel Fellowship. From there his wealth only grew.

The crowdsale for Ethereum began in July of 2014 and raised Bitcoin worth, at the time, $18.3 million. From there, he was able to secure a six-figure salary from the Ethereum Foundation, the non-profit born out of the raise.

However, his main source of wealth is the hundreds of thousands of Ethereum tokens he was able to hold on to from the cryptocurrency’s pre-mine. This gave the foundation and its founders a little under 12 million ETH, which now represents about 11% of the circulating supply.

Though Buterin hasn’t publicly revealed his financial position, his wallet addresses and public statements are enough to get a decent estimate.

Vitalik Buterin’s Cryptocurrency Holdings

Looking at his primary wallet addresses, Buterin owns about 352,000 ETH at a current value of $46 million. Between his three main wallets, he also holds ERC-20 tokens worth over $900,000.

These ERC-20s include Augur (REP), Maker (MKR), Kyber Network (KNC), and OmiseGO (OMG).

However, he also said in February of last year that he held Bitcoin, Bitcoin Cash, Zcash, and Dogecoin worth over “10% the value of my ETH.”

Crypto Briefing calculated his Ethereum holdings on the day of his statement. Though he did not specify the precise investment in each of these coins, we gave each coin an equal allocation of 15% of the value of his ETH, adjusted by historic prices, for simplicity.

Adjusting his Ethereum holdings back to February 2019 levels, his holdings would amount to roughly 2,000 BTC, 58,000 BCH, 140,000 ZEC, and 3.6 million DOGE.

Assuming he held everything, these coins would make up 37% of his portfolio at current prices, or about $35 million.

Vitalik Buterin's cryptocurrency holding pie chart

Since then, the prices for these coins have fluctuated substantially, in line with the massive amounts of volatility in the market. At its peak in early 2018, Vitalik Buterin’s cryptocurrency portfolio was worth well over half a billion dollars.

Today, Vitalik Buterin’s cryptocurrency portfolio amounts to roughly $82 million, composed mostly of Ethereum, Bitcoin, Bitcoin Cash, Doge, and Zcash.

What is Vitalik Buterin’s Salary?

Outside of his cryptocurrency holdings, Vitalik Buterin has also disclosed that he earns a six-figure salary from the Ethereum Foundation. The last time he commented about his salary he revealed he was making roughly $144,000 per year.

Though this may seem high to some, Buterin claims he was offered an even higher salary and didn’t take it. “Others in the foundation (ie. the ones who actually decided these salary numbers) offered me $185k at one point; I declined,” he said. For the executive of a multi-billion dollar enterprise this salary seems relatively modest.

Vitalik Buterin’s current salary is estimated at somewhere between $140,000 and $250,000.

Cash and Equity Holdings

There’s more to the picture. Buterin also has a substantial portion of his wealth in cash. In March of 2019, in a now-deleted tweet, Buterin said that his “fiat holdings are well under $30m,” attributed to $8 million in charitable contributions he disclosed.

Looking at the rest of his finances, Crypto Briefing estimated his fiat holdings at $12 million, bringing his net worth up to $94 million.

But that isn’t all, Buterin also owns “significant corporate shareholdings” in two companies: Clearmatics and Starkware. Clearmatics is a London-based company designing protocols for DeFi while StarkWare is building privacy software using zero-knowledge proofs.

Buterin did not disclose the exact amount invested nor his equity holdings in each of the startups. To date, Clearmatics has raised $13 million and StarkWare has raised $36 million, according to Crunchbase.

Between Vitalik Buterin’s cryptocurrency holdings, cash, and equity, his net worth is estimated at $100 million.

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